tv Cavuto on Business FOX Business June 29, 2014 8:30am-9:01am EDT
and their stock is up 15% in a year. >> gary b, bull or bear? >> well, i think that paying the employees to quit is a good idea. john lowballed the lmlmlmlmlmlm that is is a rounding error for amazon and i liked it weeks ago. >> you work for yourself, gary, and could can you pay yourself if you quit? well, he is back and co-ceo bob murray says no turning back with the way that the administration is going after his industry. we are all going to be paying through the nose. welcome, everybody, on that happy thought, i'm neil cavuto, and even president obama concedes that the new regulations on power plants are going the cost us more. what bugs t s ths th s ths th s he does not believe that the president cares. >> we must have small low power electric power, and it has nothing to do with the environment, but power, and getting the power over the grid. when he said that sky electric
rates would skyrocket, he meant it. he is carrying it out. how would you want to get c control america the most, do it through the american power plants, and ration the cost, and i'm afraid to death for the people of america, and the people in this country should be. >> there is that white house party christmas invite. and feel ing ting the heat yet? charles stein and adam luchinsky and charles payne and what do you believe that the ceo is going to make here? >> well, think of the premise to sacrifice all of this stuff, and tax americans and energy bills are necessarily higher, because we need to have the planet might get one degree warmer in the next 100 year, and in the meantime, 18 trillion in debt, no problem. that is not an imminent threat. and think about it for a moment, he is absolutely right with the
premise of it all. sandra? >> this is the adverse effects of too much government regulation and mandation. this is whap has. look, i happen to agree with him, because we are going to be facing a stark reality and the consumer bills are going to continue to go up, and energy prices continuing to go up, and the government is going to continue on the track based on the climate change results that they see that not everybody agrees on burgs we have to agree on paying higher energy prices. >> well, adam, hope you are proud of yourself. >> i was just thinking that in fact, not everybody agrees that the world is round, but the world is in fact round. i happen to -- >> prove it to me. >> well, this is -- >> well, it is not quite round though. >> well, that is great. >> there is a name for it, but it is not quite round. >> charlie can prove it to you, neil, but i don't have time right now, and it is an interesting conversation,
because the president and the there is no god-given right for electricity. >> is it the god-given right for the president to increase them 30%. >> and no we have a right -- >> no, no, no his decision. right to the epa. that is not a debate. >> there is a rule-making process. >> there no rule-makeing proces, and it is his process, and ben stein, that is my fear, it is his rule by edict. >> well, everything is his rule. first of all, adam to the contrary notwithstanding by no means all scientists believe that there is a global warming caused by manmade effects. by no means does scientists agree on that and this is one of the biggest myths of the liberals in the country, and if it is true, then of course, it is worthwhile the pay more electric bills, but it is not prov proved. we are assuming a fact that is not in evidence. the government would like to say
it, but it is not. >> and ben, with all due respect, the overwhelming majority of scientists agree on this. >> and just like there was overwhelming consensus of the -- >> well, with all due respect, the overwhelming majority has been wrong over and over. >> and adding to that point and i did not mean to jump on both of you, because it was 34 years ago that 30 or 40 years ago that we would see "time" magazine stories of how the cool the global warming, and now it is a documentary that aired that scared the you know what out of me. if you like the blizzards, get used to them. that is then and what now? >> well, i will say that i'm all for the alternative energies. >> no, you are not. you no more strike me as solar and wind guy. >> well, let me finish the point. >> well, you have to finish, la
te da. you had that mr. ponder on there who went on forever, but the overwhelming, and not overwhelming, but good evidence that the global warming and the fossil fuels here. and we need to address it not when middle-class people need job jobs. this sort of thing is that -- >> the president says you can get a job. >> and this is from is a lin dra. >> i'm not a guy like you, i am trying to parse it out. >> and we should be doing it when the i conmy is growing, and in that sense, i agree with you. >> you are just as disingenuous as the people that you cover. >> yes, mr. potter. >> and here is the problem, that the president is spending the time and energy to push the climate change agenda and at the same time pushing up the energy prices for everybody at home, and not spending any time or energy into improving the keystone pipeline or limiting the purchase of oils oversees,
and we have -- overseas, and we have a all-time high of the resources. >> why are we buying more? >> we are buying oil from the middle east, charlie. >> well, am3sñ high. >> i hate to say it, but charlie makes a good point. >> that is exactly right. >> come adam. charles payne. >> if we could not important oil from anybody else around the world -- and adam, for a moment, with we bought into what you are saying. >> and it should be a drupk day in hell. >> china is not going to stop using coal and the number one power source is coal. so china is not going to stop. india is not going to stop, and poland is building the biggest coal-fired energy plant in history. so what is going to happen to the world climate program if we have the world staying on a path
and we punish the american citizens. >> well, pollution is a huge problem for china and a huge political problem for them and they will deal with it. i want to make one quick point, the president ran on the policy and the same way he ran on the health care reform, and he is doing the job as president right now. >> adam, i agree with some of that, but this is what it boils down to environmentalists and they don't care if they put the president down for his policies or not. because they are so, and they are like the new fundamentalists, and the environmentalists are the most fundamentalist people in the world and they don't care about the suffering of the american people. >> and the most profound comments came from ben stein at the outset, we have been here before and we have made the assumptions lf a generation ago were fearing the whole world would be ice and that the
consensus was that it was going to be ice. and we would have to wear parkas all year around, and that is then. >> and adam, who we all love like a brother and a son in my case. >> not all of the time. >> and like a son, but we just don't know the answer, and the fact that a whole bunch of scientists put their name on it does not mean they know the answer. we had crazy ideas about many things in the past that the scientists said were valid, and the question is, is the data irrefutable, and if it is, then go forward. >> and followup on that, i had george schultz, the multirepublican cabinet secretary who was here part of this group that included hank paulson with who gas knows very, very well sh, and who said thatu should be aware of it and formed a group to be aware of it, and has an insurance policy just in case something goes bad. when i asked the secretary to put numbers to the policy, he demurred, but the point is that there is a group of people who
say, what is the harm of taking out an insurance policy to be sure we are on top of this? >> well, the harm is that we won't do any good, and get the yellow cars crashing into the yellow car, because there are other countries burning so much coal, and if we make the big changes, it won't help the situation very much, and the governor jerry brown is going to put in controls as if that is going to change the whole position of the world climate. >> and the american people are going to suffer before we get the technology. >> and the argument, if i remember it correctly, if you take out insurance policy to prepare for something that you might not bet it is coming, you are in better shape. >> well, neil, it depends on the environmental policy. the environmentalists don't c e
care. the hudson river is cleaner now than 30 years ago, and that is a good thing, but -- >> we all agree with that. and the rise of the mobs to the gangs, and if that is true, these protesters may be in deep trouble. up next, are we fanning the wrong flames and are the lawmakerers fanning the flames right at us getting more than a right at us getting more than a few of us hot and bothered when folks think about what they get from alaska, right at us getting more than a few of us hot and bothered they think salmon and energy. but the energy bp produces up here creates something else as well: jobs all over america. engineering and innovation jobs. advanced safety systems & technology. shipping and manufacturing. across the united states, bp supports more than a quarter million jobs. when we set up operation in one part of the country,
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fox.com for more news. fox, the most powerful name in news. >> and congresswoman! and let me -- >> wait one minute. >> no, you can conflating the issues and acting silly. >> no, i am not. >> where is your outrage when president bush went after the executive orders because you knew it was a waste of time there, and you know this is a heart of hearts a waste of time here. and the democrats said that we will de-fund president bush, and de-fund the congress, and you would be laughing them out, and now you should be laughing at them, de-fund them. >> no, it is not a case of did neil have lunch, because i likened it to did someone switch up the meds? really? a showdown with michele bachmann and i respect her, but not the way that the washington is going in the case to try to sue the
president of the united states over the use of the executive orders. gas, my only point is, isn't that a waste of time. >> okay. full disclosure, how many pumpkin lattes did you have before that interview? >> you are a despicable human being. >> and i got on the twitter feed and i got the noise. my name was on it, because it was insane. >> and i asked the i.t. people. >> i said, why am i blamed for this. i am blamed for so much, and this is a waste of time and so many things, and is this really, really going to result in anything except for maybe at the debates at the federal society. who cares! >> and i respect what she is trying to do and the frustration of the president with the executive orders, but the point is that other presidents have had executive orders and be careful what you wish for, and this guy may be overstepping the bounds and "m not surprised, but when a republican president gets in there and the democrats try
to pull the same stupt, and they have in varying ways, katy bar the door. >> with little chance of succeeding, so it is a republican strategy that everybody has seen right through, and when charlie says so many things to be done, it is a distraction, and here are the republicans entering into the midterms with so much to work with. >> and this is feeding the oppositi opposition. >> and feeding the opposition, and look at the jobs and the economy, and the scandals that are on the table right now. for speaker boehner to spend his time and attention on this is merely a distraction from what the party should be actually focused on and let alone showing how they are willing to spend taxpayer money. >> and joe? >> well, i was glad to see the pushback on the imperial president who really to give an examp example. >> you are working too hard. >> we saw some pushback with the supreme court with the 9-0 decision, and the president has
gone way too far and i understand that everybody wants the power in the white house and you want to preserve some of it when you are not this the white house, but the idea that you should not push him back, and they should have done it a long time ago, and for sandra's point, you can go for ammo, there is plenty, but you can go for this, too. >> and now depending on the majority leadership, i see little to indicate that is the case. >> and the fact is that you don't just call up a lawyer and the staff people, and he is going to devote a total of 20 minutes it to, and aside from distracting from it, and a bunch of lawyers will do it, and it is fine. and the judicial system is an excellent instrument for curbing ex executive power and happy that the republicans are using it and use everything that you can to curb the imperial presidency, whether it is republican or democrat. >> adam? >> disag grree. it is a perfectly good policy conversation, but the house republican leader shship has ply of policy venues, including
passing legislation, which is its job. you said it is a waste of time. >> well, ki appreciate the frustration and appreciate what ben said, there are legal venues to purr sitesue it, but they ca it. >> well, they can, with all due respect. >> and we are all against the trivial pursuits and why don't we feed the bar with this frivolous lawsuit. >> well, i technically agree with you, ben, but from the political standpoint, it is stupid, because this is a debate at the federal society, and the country is going to yawn and think that boehner is nuts. >> well, with some due respect, the 2nd court of appeals may slap him with something. that would be very, very important. >> and the optics of getting it done, and to sandra's earlier point, it seems that the republicans are more inclined to just side shows than actually
getting anything done is going to feed the democratic narrative is all i'm saying. >> well, maybe, because i'm a lawyer and i have seen the courts change it radically and the courts could change it radical radically. >> well, i have watched "law and order" enough times to know they 'm right. >> and what about "perry mason." >> and he has to shove the summa cum laude thing back to us. >> just because you went to yale school. >> and who graduated the top of his trucking stop, mr. stein? and when we come back, are we looking at the next bubble to burst? well, this billionaire is. >> and it is really holding us back in the economy's ability to back in the economy's ability to ♪ ♪
i think that is a real problem for the economy. and i think that bubble is going to burst. i think there will be a cap on student loan guarantees. when that happens you will see a repeat of what we saw in the housing market. >> where was the interview? for mark cuban predicting the student loan bubble is about to pop charles pane says this is one we can stop. >> get the government out of the student loan business because there won't be a cap. what is happening is we are taking taxpayer money and giving it to colleges. so we have the institutions that have raised college tuition
significantly faster than inflation. >> i don't know how you will get private industry -- people can't get mortgages because of the requirements. who is going to lend money to college kids? >> that's why you have the government. >> lend money to a person who will make a million dollars. >> lend money to somebody without a job? >> there was a big private industry until the obama administration kicked everybody out. >> you two get so worked up. >> look, mark cuban, i respect the guy. he has done very well for himself, arguably got lucky. >> arguably? that is every billionaire i know. >> i don't think he is putting himself out there. >> you are saying that is the next crisis. >> there is a trillion dollars
in student loans out there and that is the next bubble. >> do we have to do something about it? >> there will be a bursting of the bubble and enormous default and taxpayers will have to pay up. it cannot be avoided. >> it will burst but won't take down the economy the way the housing bubble did. >> i want to thank you. i want to thank you very, very much. >> thanks for having me. >> one in four americans no >> one in four americans no money stashed away [ laughter ] smoke? nah, i'm good. [ male announcer ] celebrate every win with nicoderm cq, the unique patch with time release smartcontrol technology
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stocks we're saving to help boost your saving. >> i like yrc. >> it is a classic charles high risk high reward pick. it doesn't suit me for somebody trying to build a nest egg. >> what are you doing? >> something less risky, vanguard small cap value. it is extremely inexpensive. >> ben? >> i like that choice. i like any kind of carefully chosen index. i would go with spiders. it is right down the middle. you will make an awful lot of money over the long term. >> stock picking is a waste of time. >> it is not a waste of time for
the stock picker but the investor. >> i know if you by the spiders if you are not already rich you won't get ch. >> maybe over 40 years. you can call it economic shock. it turns out the first quarter was a lot worse than anybody imagined, the gdp suffering the worst down turn outside of a recession in more than 50 years. white house and other democrats blaming it largely on bad weather but some saying they should get a mirror. welcome to "forbes on fox". john, what is holding the economy back? the weather or the government? >> well, the good news and the bad news is that economic growth is truly easy and a function of government getting out of the way. it is government policy.